IEMS’ Sasidaran Gopalan was featured in an eSocialScience op-ed on the Greek government’s negotiations with the IMF, European Central Bank, and the European Commission on the possibility of further bailouts to bailout the debt-laden central government of Greece.
As quoted by Dr. Gopalan’s Op-Ed:
While continued consolidation on the part of the Greeks appears important to avoid moral hazard problems in the future, creditor countries must also accept some of the adjustment costs. This entails a combination of at least two things: The first involves forgiving a larger part of the debt owed to them by Greece. The second requires undertaking more expansionary fiscal policies that will help facilitate growth in Greece and rest of the Eurozone. Such policies will also help reduce Germany’s large and growing current account surpluses. The willingness to distribute pain between both debtors and creditors is the only sensible way forward for the fragile currency bloc.
Read the full article here: eSocialScience
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